Polygon logs 200% hike in THIS key metric: Can it help MATIC?

Polygon has seen a 200% increase in active addresses since the start of the year. Will MATIC see green in the future?

Despite the surge in activity, the price movement of MATIC wasn’t correlated with the growth in activity on the Polygon network. The price of MATIC fell by 19%.

To break this trend and for MATIC to have a chance at a reversal, MATIC would need to re-test and break past the $0.6346 level and aim for the $0.6886 mark. The Awesome Oscillator , however, was negative indicating that the short-term price movement was weaker than the long-term trend, potentially signaling a decline in buying pressure and a stronger likelihood of prices continuing to fall.However, on-chain metrics revealed some positives for MATIC. Over the past few days, the network growth for MATIC grew significantly, implying that the number of new addresses accumulating interest in MATIC had grown.

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